BUSINESS

Grease Monkey and SDB to finance entrepreneurs

April 07, 2019



Ibrahim Al Rashid, SDB Director General Manager; Saeed Al Zahrani, SDB Assistant Director General; Fares Bardeesi, Franchise House Managing Director; and Eng. Saleh Al Rasheed, Monshaat Governor.
Ibrahim Al Rashid, SDB Director General Manager; Saeed Al Zahrani, SDB Assistant Director General; Fares Bardeesi, Franchise House Managing Director; and Eng. Saleh Al Rasheed, Monshaat Governor.

JEDDAH — Franchise House Company, the exclusive master franchisee of Grease Monkey in Saudi Arabia, and the Social Development Bank (SDB) signed a cooperation agreement in Jeddah under which the bank will provide financing to entrepreneurs enrolled in the Grease Monkey franchise program. The agreement reflects SDB›s efforts to develop the franchise sector in the Kingdom.

The purpose of the agreement is to offer a package of financial support, through the bank, and non-financial supporting services through Franchise House Company in cooperation with the Small and Medium Enterprises General Authority (Monshaat), empowering Saudi entrepreneurs and guiding them through every aspect of running a profitable Grease Monkey franchise business.

The signing ceremony took place at the Franchise Forum organized by Monshaat at the Ritz Carlton Hotel in Jeddah with more than 300 national and international brands from around 20 countries and in the presence of Eng. Saleh Al-Rasheed, governor of Monshaat, and Ibrahim Al- Rashid, Director General of the Social Development Bank

Franchise House participated in the 3-day Franchise Exhibition last March to market Grease Monkey, one of the world›s largest automotive maintenance and car wash franchises. Grease Monkey has more than 320 branches worldwide, 233 of which are operated through the franchise system. The Grease Monkey brand is not owned by an oil company. Being independent means that the focus remains on helping consumers properly maintain their cars or trucks, instead of selling them a particular brand of oil. Moreover, Grease Monkey centers provide maintenance services according to owners’ manual using genuine spare parts in order to maintain vehicles’ warranty.

Mr. Hattan Tashkandi, Chief Operating Officer of Franchise House Company, commented: “We are pleased to be present at the Saudi Franchise Forum to offer a solid franchise business model and profitable investment opportunity to Saudi entrepreneurs that has been tested and proven successful on a global level utilizing the franchise system.” He added: “Grease Monkey centers are relatively simple to operate, with a streamlined operating environment, an industry-leading operation manual and system developed over a period of 40 years, and a comprehensive training and support in all aspect of center operations.” He also revealed that six agreements are being signed with Saudi entrepreneurs to grant them Grease Monkey franchises in Jeddah and Makkah.

Entrepreneurs of both genders are welcome to explore more details about Grease Monkey›s franchise program and apply for franchise rights through https://emtiyaz.monshaat.gov.sa, a franchise website recently launched by Monshaat. — SG


April 07, 2019
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